What are the procedures for processing an Expense Transfer?
Expense transfers must be made within 90 days of the original incurrence of the charges but no later than 15 days after the termination date of the budget period. Transfers made after the 90-day period raise serious questions concerning the propriety of the transfer.
All expense transfers must be documented by an adequate explanation that fully explains how the error occurred and how the expense is related to the account receiving the expense. Note: Any explanation that merely states a transfer is being processed "to correct error" or "to transfer to correct project" is not sufficient and will not be accepted.
Transfer of charges of any account in overrun status or having unexpended funds will be scrutinized carefully and will not be accepted unless unusual circumstances exist and are documented.
Expense transfers lacking adequate justification will be returned to the originating department for further documentation and/or explanation prior to approval. Expense transfers that are disapproved will be transferred to the dean's bad debt account (when the expense in question resides on a sponsored account).
Categories: Expense Transfers